
Foreign Nationals
If you are a non-UK national residing in the UK, your residency status could affect your mortgage options. Fortunately, there are many mortgage options available to foreign nationals, though the eligibility criteria can differ compared to those for UK citizens.
Non-UK nationals are eligible to obtain a UK mortgage. Factors influencing eligibility include nationality, visa status, credit score, and loan-to-value ratio. The criteria vary among lenders, with considerations such as residency duration and financial stability playing key roles in the decision-making process.
We are here to help, book an Appointment and speak with one of our experienced advisors to discuss your residency status and mortgage options.
Can I buy property in the UK if I am not a UK national?
Yes, UK mortgages are available to non-UK nationals. Most lenders will consider applications from foreign nationals, although some may conduct additional checks or have stricter requirements for certain applicants, such as those on specific visa types or those with a short residency in the UK and no established UK credit history.
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If you have settled status or indefinite leave to remain in the UK, you should have access to mortgage options similar to those offered to UK nationals.
What type of foreign nationals are eligible for a UK mortgage?
As a foreign national living in the UK with a visa or residency status that permits you to work, you are likely eligible for a UK mortgage. However, fulfilling the eligibility criteria does not ensure mortgage approval. Lenders will evaluate aspects such as your income, credit history, employment status, affordability, and the type of visa you hold. The types of visa's include:
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Permanent Residency (Indefinite Leave to Remain – ILR): Typically, eligible for a UK mortgage and can access a wide range of options. Most lenders will consider your application similarly to that of a UK resident.
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Temporary Residency (Limited Leave to Remain – LTR): Eligible for a UK mortgage, but with fewer options compared to permanent residents. Lenders may take into account the remaining duration of your residency and the stability of your income.
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Visa Holder: The eligibility depends on the type of visa, income, and the remaining visa duration. Tier 2 (General) visa holders, particularly those with long-term work contracts, often have favorable eligibility.
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Ancestry Visa Holder: Eligible for a UK mortgage, particularly if you have a stable income and satisfy other lender criteria.
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EU Citizen: EU nationals with Settled Status or Pre-Settled Status are eligible to apply for a UK mortgage, subject to the mortgage lenders criteria and affordability calculations.
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Partner/Spousal Visa and Family Visa Holder: Eligible for a UK mortgage, particularly if the sponsoring family member has a stable income and meets the mortgage lender’s criteria.
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Non-UK Resident: You may encounter difficulties in securing a mortgage, as lenders often have specific requirements or restrictions.
What are ‘foreign national mortgages'?
The term a "foreign national mortgage" means a mortgage for non-UK citizens. Individuals who have the right to reside and work in the UK, but do not hold a UK passport.
A "foreign national mortgage" refers to the approval criteria, which can be stricter than those for a standard mortgage. However, the interest rates and terms are generally the same as those offered to UK residents.
What deposit do I need for a foreign national mortgage?
The required deposit can vary depending on factors such as your duration of stay in the UK, visa type, and source of income.
While some lenders may ask for a higher deposit of around 25%, others might be more flexible, accepting deposits as low as 5-10%, especially if you’ve been a resident for over five years.
Can I use funds from outside the UK for my deposit?
​Certain lenders may accept deposits from abroad if the funds are verifiable and the origin of the deposit is evidenced. This often involves stricter checks, especially for funds from outside the European Union.
Does owning another property outside the UK have an impact on my mortgage?
If you hold a mortgage on a property outside the UK, some lenders might take those payments into account when assessing your affordability. Be aware that this could lead to additional stamp duty charges. We recommend confirming these details with a professional who can offer accurate guidance.
How can Knightwood Mortgages help?
Securing a mortgage as a non-UK national is certainly possible, but it does come with a few additional hurdles. Working with one of our experienced brokers can significantly increase your chances of success.
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At Knightwood Mortgages, we're dedicated to making the foreign national mortgage application process as easy as possible. Contact us to find a suitable mortgage deal as a non-UK national by
emailing services@knightwoodmortgages.co.uk or calling 03301 336045.